Friday, January 22, 2010

Quick views on CA final results


My views on the CA Results are :

1. If we analyse the details submitted by one active member “Monika” the following is reflected:

For the years 2006 and 2007; the results of CA Final were the highest if we compare all the attempts given in the table by her.

2. Indian GDP was negative in 2000. In 1996; there was crisis in money market because most of the companies which came in for IPOs from 1992-1996; failed to be operative. Many of them were dummy (but yummy for promoters)!. Such 83% companies are not in existence at all ! There are bundles of share certificates with the public having NIL Value.

3. But soon after that the economy revived. There were so many takeovers by Indian blue chip companies in foreign countries specially in the years 2004 to 2008; hence an increase in the number of qualified accountants was felt.

4. One major problem seems to be faced by the Institute during 1996-2000. Because in comparison to MBA Institutions; marketing part of the Institute was very weak so the students were not choosing CA as their career. Hence the Institute adopted one technique to catch the students into the profession when they are young. That is why the "scheme" of CPT was introduced.

5. After introduction of CPT; fortunately the economy remained vibrant till 2008. The "scheme" of CPT went successful and huge number of students took admission in CA profession.

6. Indian companies did well till January, 2008 and then recession period was “declared” by US (not by us).

7. Many Indian companies “produced” huge losses in forex transactions due to non-application of hedging techniques "properly." So the government has to adjourn the application of AS-11 for time being. To avoid such situation the institute has started organising seminars on forex transactions.

8. In India we already have the highest number of chartered accountants in the world; but facing problem of good accountants for corporate sector which is growing by leaps and bounds. ATC will help towards this.

MINDS THIS ONE AS MOST THE IMPORTANT AS IT MAY BE THE POLICY OF THE INSTITUTE TO STOP MOST OF THE STUDENTS AT THE STAGE OF CA PCC/IPCC QUALIFICATION ONLY AND THEY WILL BE “AWARDED” ATC QUALIFICATION.

9. There are so many challenges before the Institute to educate its members towards –

1. New Income Tax Code

2. Implementation of LPP in Professional World

3. Goods and Service Tax

4. Implementation of IFRS

Whenever new challenges are there; first question is of survival. We can survive only by making our "product" more competitive; specially when effect of the recession is still there.

10. If we analyse the results of previous 14 attempts; we will find that most favourable results were in 2006-2007 i.e. the year in which the CPT was introduced. By the same time; more acquisitions were there by the Indian Companies hence a good demand for Indian Chartered Accountants was also emerged to employ them at foreign land.

11. The service of the chartered accountants are related to the business activities. We can easily analyse that when the economy was at boom; more favourable results were there.

12. So students should plan their studies in such a way that they are well aware of international transactions like transfer pricing, forex transactions, import and export procedures, accounting of commodities, hedging, procedure of merger and amalgamations, listing of shares at stock markets and so on…..

13. Ensure yourself that you stand in the “first line” i.e. upto 15 out of 100..

At last I quote here:

i. What is the secret of Success ? “Right Decisions.”

ii. How do you make Right Decisions? “Experience.”

iii. How do you get Experience? “Wrong Decisions.”

- Dr. Abdul Kalam

I thank all the members who joined the forum (the entry is still open – the attendance will be recorded the moment they will enter).

With Regards,

CA Surendra Kumar Rakhecha


It is really very "u-n-f-o-r-t-u-n-a-t-e" that students commit suicide on being declared "u-n-s-u-c-c-e-s-s-f-u-l."

That is why I wrote the article "SECOND SHOT SUCCESS IN CA" - a motivational dose with T..e..a..r..s.....

Such "results" happen due to "misunderstanding" about life.

We all should rethink about it.

This is the reason my mission is "Motivation to the Students."

The competition is going to be tough day by day.

Although we are discussing about CA students only; but the story is one and same for other streams !

Three years back; during one Parents' Meeting in a School of which I am a Counselor; one parent raised the question that my ward's performance is not satisfactory as he has scored only 82%. Since we analysed the matter beforehand; I hammered - Madam, How much you scored in your school days ? She could not answer !

It means the "dreams" of parents are being lodged on poor children.

We all are "idiots" - not only the 3 idiots. In our society also; we "declare" a person successful only when he is enjoying all the facilities.

Without knowing what is suitable to self; student tends to follow others.

There are huge opportunities now-a-days in each field. Only common sense in required.

In Surat; I have seen Seven Godowns of an uneducated peron running his business of old copies and books (Raddi). He sells only in Cash.

And see now one "posh" example. All the Diamonds Merchants sell their goods on Credit and many times we see that some are declared insolvent.

(Note that Raddi and Diamonds both are not perishable at all (Raddi is already perished but "real" goods for the trader; of course !) so in that sense both are "EQUAL." Who should sell the goods on cash and who should sell on credit?).

What would you say ?

Which type of education is necessary ?

(Note : So many CAs are now-a-days engaged in non-traditional areas for which no formal education of CA is necessary. They are earning better than the CAs who are engaged in traditional areas).

So students should not be disappointed when they could not ?????????? in the examination. Refer my article One Shot Success in CA (28 12 2009) for making group of students. It will reduce the burden of studies.

1. MAKE A TEAM OF CA STUDENTS.

2. DISCUSS IN DEPTH ABOUT THE SUCCESS IN LIFE.

3. YOU CAN CHANGE YOUR LIFE.

4. NOBODY ELSE CAN CHANGE YOUR LIFE.

During the counseling since last so many years; I have "tackled" so many (types of) students - the most confused students I found are CA Students ! This is one of the biggest reason of their failure - in my opinion. I ask your opinion.




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